Foreign money
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You're not asking the right question. What are the underlying conditions that make it attractive to store capital in this way?
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Why would he buy a parcel of land for $3M if he could only sell it effectively for $2M?
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the effect of the tax (at whatever % it would be at) would be priced into whatever you acquire the land for.
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Build housing, raise the minimum wage, invest in education - the solution all around the world
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This is going to sound crazy, but increasing minimum wage (while totally a good thing) would proportionally raise rents.
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orientated towards property rights without development rights. no wonder it's a huge disaster! great point! :D
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Rents in Canadian cities aren't that high.
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I enjoyed your critique! It's not correct (imho), I'll write an opposing article. Interested in a civil debate?
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